Reduced Card Fees
As a merchant, you’re probably familiar with the fees you must pay for purchases made with a debit or credit card. While the amount of each fee depends on the total purchase price, even small fees can add up to a significant amount. Installing an ATM will increase cash transactions, thus saving you money by reducing the number of debit and credit card fees.
Studies show that ATM users will spend up to 25% of their withdrawal in the same store the ATM is located. Combined with more foot traffic, this could increase your cash sales a significant amount.
Increased Foot Traffic
When you have a well-advertised ATM, people will come to your store to use it. This is especially true when either your business or those around accept mostly cash transactions. By having an ATM inside your business, these potential customers will enter your store to use it, giving you an opportunity to make a sale.
If you’re thinking about providing ATM services for your customers, you may be wondering how it will benefit you and your customers. These top three benefits of ATMs show just how beneficial it can be to your bottom line.